The asset management arm of London-listed Close Brothers will boost its wealth management capabilities with the acquisition.
Close Brothers Asset Management is to acquire London-based financial planning firm Eos Wealth Management for an undisclosed sum.
Eos was founded in 2010 and serves high net worth clients, particularly in the media and sports industries. It advises on over £300 million ($431 million) of assets. As part of the deal, which is subject to regulatory approval, all 28 Eos employees will move to CBAM.
“We are committed to building a market-leading integrated wealth management business and are keen to augment our strong organic growth with selective, high-quality acquisitions. The acquisition of Eos Wealth Management fits perfectly with our strategy,” said Martin Andrew, chief executive of CBAM.
CBAM's offering includes advice, investment management and self-directed services for private clients and professional advisors.